Federal Reserve policy makers have another reason to delay an interest-rate increase after a weak March payrolls report corroborated a first-quarter slowdown in the U.S. economy. The question is whether that's reason enough.

Employers last month added the fewest jobs since December 2013, creating just 126,000 positions, the Labor Department said Friday. Revisions erased 69,000 jobs from previously reported tallies for January and February. The weaker data contrast with 12 straight months of 200,000-plus monthly gains.

The Fed is watching for the economy to reach or approach full employment and generate higher inflation before raising interest rates from near zero. Fed Chair Janet Yellen and her colleagues last month opened the door to an increase as soon as June, while also suggesting in forecasts that September may be a more likely time to begin tightening.